# Soybeans fall after data shows US crop less damaged than feared - Markets - Business Recorder

> Chicago soybeans and corn fell after USDA crop progress data showed good-to-excellent ratings dropped less than analysts expected. Wheat edged higher despite sluggish US demand and cheap Russian competition.

- Date: 2023-08-29 · published 2023-08-29T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/34582-soybeans-fall-after-data-shows-us-crop-less-damaged-than-feared-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

A smaller-than-feared decline in crop ratings reduces the weather risk premium, pressuring soybean and corn prices, though heat and dryness during pod-setting remain a risk.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-04-17 | [French soft wheat crop rating stable - Markets - Business Recorder](https://feedsoft.ai/events/41779-french-soft-wheat-crop-rating-stable-markets-business-recorder.md) | -0.7% | +7.2% |
| WHEAT | 2022-07-13 | [US MIDDAY: Grains: Losses deepen - Markets - Business Recorder](https://feedsoft.ai/events/4310-us-midday-grains-losses-deepen-markets-business-recorder.md) | +8.2% | +8.0% |
| WHEAT | 2024-11-26 | [Wheat extends losses on better US crop outlook, firmer dollar - Markets - Business Recorder](https://feedsoft.ai/events/11777-wheat-extends-losses-on-better-us-crop-outlook-firmer-dollar-markets-business.md) | -0.1% | +2.1% |
| WHEAT | 2023-02-09 | [Strategie Grains enhances EU wheat crop forecast again - Markets - Business Recorder](https://feedsoft.ai/events/37268-strategie-grains-enhances-eu-wheat-crop-forecast-again-markets-business-recorder.md) | -2.6% | -8.6% |
| WHEAT | 2019-08-12 | [Corn futures fall 6% after bearish USDA crop report; soybeans down 1.3%](https://feedsoft.ai/events/11736-corn-futures-fall-6-after-bearish-usda-crop-report-soybeans-down-1-3.md) | -0.1% | -2.9% |
| CORN | 2022-07-13 | [US MIDDAY: Grains: Losses deepen - Markets - Business Recorder](https://feedsoft.ai/events/4310-us-midday-grains-losses-deepen-markets-business-recorder.md) | -11.6% | -12.4% |
| CORN | 2024-11-26 | [Wheat extends losses on better US crop outlook, firmer dollar - Markets - Business Recorder](https://feedsoft.ai/events/11777-wheat-extends-losses-on-better-us-crop-outlook-firmer-dollar-markets-business.md) | -0.6% | +4.7% |
| CORN | 2022-07-25 | [Brazil’s second corn crop 62pc harvested - Markets - Business Recorder](https://feedsoft.ai/events/13707-brazil-s-second-corn-crop-62pc-harvested-markets-business-recorder.md) | -0.8% | +3.7% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40260403

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.